Managing various aspects of your organization, including supply chain management, resource planning, and customer service, can be a lot to handle. However, as your business expands, you need to find a solution that supports that growth, especially in an evolving digital world.
This is where enterprise resource planning (ERP) systems come in to help businesses streamline their business functions and workflows. A seamless and intuitive ERP system allows for more efficient and effective decision-making, easier management of business processes, better business performance, and more time to focus on key areas of business operations.
At its core, an ERP system is a business management software that integrates and standardizes essential business applications such as finance, human resource, sales, marketing, distribution, and other departments. An enterprise resource planning system essentially puts all these functions in one system—a shared database—for a more organized and better business management.
There is no one-size-fits-all ERP solution for businesses, as each company has its own structures, processes, and business models. That’s why it’s crucial to find a reputable ERP platform to help your organization build a suitable, customizable ERP system that can help you achieve your business goals, like Acumatica.
What is Acumatica?
Acumatica is a leading cloud-based ERP platform designed as a streamlined business software that enables businesses to access data and manage their operations wherever they are. Acumatica offers different suites to accommodate the varying needs of organizations, including financial management, distribution, manufacturing, and retail-commerce tools.
Since it’s a cloud-based system, businesses can access the software application as long as they are connected to the internet. This comprehensive software allows companies to reduce unnecessary friction in operations, thus boosting productivity and efficiency.
Acumatica’s ERP provides many features and benefits for businesses. It shows real-time insights about your operations and gives you access to relevant business reports. The platform is also designed for use in any device, allowing for easier data management.
Cloud-based applications like Acumatica’s ERP allow easy and convenient scalability, giving businesses more flexibility and room for growth. In addition, companies get to choose and pay for only the modules they need when they need them.
The Functionalities of Acumatica
Businesses can utilize Acumatica’s cloud ERP software for multiple functions. Below are some of the modules from Acumatica’s ERP you can explore.
Financial Management
Acumatica’s powerful financial management tool gives businesses an edge for running their business finances. Organizations get access to a roster of accounting features to monitor and track daily financial activities, tax management, payroll management, budgeting and planning, and reports or insights.
The financial management module can accommodate an enterprise’s intricate processes and requirements, yet it’s also simple enough for a smaller organization’s basic financial management needs.
CRM
The industry leaders’ customer relationship management (CRM) module has comprehensive features that make handling leads, finding opportunities, managing contacts, and reviewing customer accounts easier. Acumatica’s CRM shows reports with real-time data on customer activities in one database such as orders, invoices, payments, and service calls.
With these functionalities, companies can get a full view of customer information and find ways to continuously improve their customer service efforts.
Project Accounting
Track your budget more efficiently and deliver your business initiatives as planned with Acumatica’s Project Accounting function. With Project Accounting, you can get a clear picture of all project-related expenses, including labor, services, inventory, and materials. The budget reporting features make comparing and calculating project costs easier as well.
Reporting, Dashboards, and Data Analysis
Make uncomplicated reports that even your stakeholders and other key staff can understand with Acumatica’s Reporting, Dashboards, and Data Analysis toolkit. It allows businesses to gather data and analytic insights and generate reports in easy-to-understand formats containing relevant KPIs.
Inventory Management
Monitor and track every stock from your multiple warehouse locations. The inventory management software can help organizations access inventory information across various locations in one system, simplifying the inventory management and distribution process.
With great accuracy, real-time access, and automation to boost inventory turns, businesses can avoid stock-outs and manage costs effectively.
Order Management
Acumatica’s integrated Order Management module caters to those who don’t have an inventory but need a database of sales quotes, sales orders, and purchase orders. This system features tools that enable you to enhance customer service and maintain better vendor relationships. The module’s automation functionality lets you generate purchase orders or mark sales orders as approved with just one click.
Technology Platform
Acumatica’s Cloud xRP platform is an application development program and multifaceted framework companies can use to build business applications. The technological platform allows developers and software organizations to utilize artificial intelligence with machine learning to advance their business processes or boost their IT infrastructure at a reduced cost.
Manufacturing Management
The Manufacturing Management Edition module covers Bill of Materials and Routing, Production Management, Advanced Planning and Scheduling, Product Configurator, Order Management, and Material Requirements Planning, among others. The integrated manufacturing and planning system allows companies to monitor the coordination of real-time activities happening in their business.
Service Management
The Service Management system in Acumatica features appointment schedules, contract management, and a mobile application for organizations like service-focused businesses, construction companies, and manufacturers for deliveries. The toolkit lets you streamline your operations and schedule people at the right time for optimized dispatching, resulting in better response times and increased customer satisfaction.
Construction Management
Acumatica’s convenient and intuitive Construction Management accounting software can help you manage manufacturing, payroll, inventory, service management, job cost accounting, project management, and more in a cohesive, integrated system. This helps construction companies organize their business operations in one place and increase their overall efficiency.
Commerce Management
For retail or commerce businesses, providing consistent customer service is a competitive advantage. Acumatica’s Commerce Edition module lets you handle inventory, omnichannel orders, distribution, returns and exchanges, accounting, and customer support in one dashboard—accessible on any device and centralized to suit your business operations. Businesses can integrate Acumatica into the eCommerce platforms they use, such as Shopify, to simplify their workflows.
Point of Sale
Modernize your Point of Sales (POS) system with Acumatica powered by IIG. This solution is best for retailers who want to refine their omnichannel sales and all transactions (i.e., retail and counter sales), bringing everything in one system.
With this POS system, businesses can manage transactions through mobile-friendly, touch screen apps connected to barcode scanners, registers, receipt printers, and card terminals.
Industry-specific Acumatica Editions
Acumatica’s wide range of available toolkits and flexibility let companies license only the modules they need for business continuity and operations. As they scale and grow, they can add more to their arsenal as they see fit.
Acumatica offers five pre-packaged product editions that fit specific industries, grouping the modules that are most likely to be used in certain industries. Keep reading to learn more about each edition.
1. General Business Edition
This edition is designed as a complete package you’ll need to run your business efficiently and productively. The General Business Edition encompasses financials, reporting and business intelligence, CRM, and project accounting in one source—the central elements necessary to manage and drive your business to greater heights.
Businesses that can utilize and benefit from this package include tech companies and software vendors, event venues, retail businesses, suppliers, manufacturing services, and more.
Below are some of the modules in General Business Edition.
- Customer relationship management: Features a CRM function for handling leads and contacts.
- Financial management: Businesses of all shapes and sizes can find the support and functionalities they need from the financial management feature.
- Reporting, dashboards, and data analysis: Access data-backed insights, monitor trends, and produce reports using the toolkit easily.
2. Distribution Edition
Acumatica’s Distribution Edition is designed for distributors. This management solution enables businesses to connect warehouses, integrating functionality and cohesive features in one distribution system for convenient inventory management and tracking and fulfilling orders.
The Distribution Edition lets organizations minimize delays and errors and improve customer service, allowing them to focus on selling their products.
Companies that can benefit from this pre-packaged solution include retail businesses, logistics companies, and other businesses that involve product distribution. Here are some of the modules included in this package.
- Inventory management: Gives an overview of your inventory, reorder quantities, and inventory costs from multiple warehouse locations, allowing you to manage your distribution productively.
- Order management: Take care of sales activities, refine procurement processes, and simplify orders for clients.
- Purchase order management: With automation and a central system for purchasing processes, this enables you to build better vendor relationships and reduce procurement costs.
3. Manufacturing Edition
One of Acumatica’s known focuses, Manufacturing Edition ERP, connects your production planning with sales orders, purchasing, accounting, financial management, and customer management. Through the software, the manufacturing team can view approvals and monitor all relevant activities like schedules and orders through their device.
Tech organizations, brewing companies, and nonprofit organizations are some of the types of organizations that can utilize the Manufacturing Edition ERP software. These are the applications that can help manufacturers streamline their production processes.
- Production management: Oversee production orders, schedule orders for the shop floor, monitor materials and labor expenses, and compare actual costs to planned costs.
- Advanced planning and scheduling: Schedule precise delivery dates to satisfy customer demands.
- Service management: Reduce the time between call receipt and job order and dispatch people at the right time to improve response time and minimize costs.
4. Construction Edition
Acumatica’s cloud-based construction accounting software solution built for construction companies makes it easier for businesses to track and manage labor costs, budgets, and project schedules. It also allows convenient management of subcontractors and materials through inventory control and purchase requisitions.
From change orders to project documents and all other activities, construction businesses can get a full scope of everything they need to know in one integrated system. Here are some of the features that come with the Construction Edition suite.
- Job costing: Ensure the project management and accounting are on the same page regarding labor, material, and equipment costs.
- Project billing: Review and confirm details for quick billing, material invoices, and project progress.
- Daily field reports: Show accurate, real-time information regarding time collection, subcontractor updates, field visitors, job site weather updates, change requests, and more.
5. Retail-Commerce Edition
Acumatica’s Retail-Commerce Edition aims to provide a good and consistent customer experience for an empowered omnichannel business. The pre-packaged suite offers native support for multiple warehouses, shipment tracking, pricing, and more.
With integrated software like this, your business can focus on order processing and fulfillment for greater efficiency, increased customer satisfaction, and higher profits. Retail-commerce businesses can benefit most from this, as it can help keep their business moving more smoothly. Below are the core applications included in this edition.
- Order management: This allows companies to generate sales orders, purchase orders, and sales quotes with reduced paperwork. It provides businesses with the features necessary for better customer service and vendor relationships.
- Point of Sale powered by IIG: Manage all transactions in one system. Its essential features include real-time inventory, system-wide integration, barcode scanning, and rapid order entry.
- Reporting, dashboards, and data analysis toolkit: Get a clear view of your company’s overall situation by looking at crucial KPIs and generating Acumatica reports and analytics.
Centralize Your Core Processes for Business Growth
Managing a business, no matter the shape or size is no easy feat. One of the best ways a company can grow further is by streamlining its processes to focus more on other core business functions. Using a reliable, cloud-based ERP system does the data entry, reporting, and more—enabling the other parts of your company to connect and look at data from one database.
Acumatica allows organizations to innovate and unlock their unmatched ability for a more productive way of running their business. For a future-proofed business and improved performance, consider checking out Acumatica to simplify your processes.
If you’re interested in learning more about Acumatica, Yondu – Acumatica’s partner in the Philippines – and their team of experts can give you a hand at migrating to a cloud ERP software. Get in touch now to schedule a product demo and move your business forward.
